Surviving The Assault on Private Sector Careers in America

Obama’s Historic Day — A $562 Billion Lie!

DJH: I admit that I watched a lot of ESPN and The Food Channel today. It’s not that I can’t stand to watch the dems win. In fact I watched all of the November 2008 election results thoroughly. I just can’t come to grips with a President who lies directly to the American people with such ease. If he can lie about something this big and important, how can we trust him to tell us the truth about the private sector economy, terrorism, or dealing with the Iranian nuclear threat?

Let’s face it, as a nation, we are in very deep do-do and it has nothing to do with health insurance.

We have private sector unemployment nearing the levels of the great depression (the true number is 17% not 9.7%). Massive tax increases on private sector businesses will make this worse and keep it there for a long time.

Virtually every federal, state, and local government body in America is financially insolvent due to trillions of dollars in unfunded union worker pensions or entitlement programs like Medicaid or Medicare.

Last month the nation’s monthly deficit set an all time record deficit of $220.9 billion, which is plenty scary on it’s own, but the way we got there scares the living daylights out of me. Obama spent $328.4 billion and only collected $107.5 billion in taxes and fees! This is fiscally unconscionable and puts the safety of our country in grave risk. By the way, this deficit was 14% higher than February of 2009 — Obama’s first full month in office.

But today I starting watching Obama make history but then hit the clicker and went to Rachel Ray when he said:

So for all those folks out there who are talking about being fiscal hawks and didn’t do much when they were in power — let’s just remind them that according to the Congressional Budget Office, this represents over a trillion dollars of deficit reduction that is being done in a smart way.

– Barrack Obama March 23, 2010

And that’s the big lie that stole our careers!

As a conservative author, I believe that I must point to liberal or independent news services as my source of facts if I ever hope to change the opinions of my readers on left. That’s why it’s so important to point out that the very liberal New York Times is my source of fact for calling the 44th President of the United States a BOLD FACED LIAR!

“…If you strip out all the gimmicks and budgetary games and rework the calculus, a wholly different picture emerges: The health care reform legislation would raise, not lower, federal deficits, by $562 billion.

Gimmick No. 1 is the way the bill front-loads revenues and backloads spending. That is, the taxes and fees it calls for are set to begin immediately, but its new subsidies would be deferred so that the first 10 years of revenue would be used to pay for only 6 years of spending.

Even worse, some costs are left out entirely. To operate the new programs over the first 10 years, future Congresses would need to vote for $114 billion in additional annual spending. But this so-called discretionary spending is excluded from the Congressional Budget Office’s tabulation.

Consider, too, the fate of the $70 billion in premiums expected to be raised in the first 10 years for the legislation’s new long-term health care insurance program. This money is counted as deficit reduction, but the benefits it is intended to finance are assumed not to materialize in the first 10 years, so they appear nowhere in the cost of the legislation.

Another vivid example of how the legislation manipulates revenues is the provision to have corporations deposit $8 billion in higher estimated tax payments in 2014, thereby meeting fiscal targets for the first five years. But since the corporations’ actual taxes would be unchanged, the money would need to be refunded the next year. The net effect is simply to shift dollars from 2015 to 2014.

In addition to this accounting sleight of hand, the legislation would blithely rob Peter to pay Paul. For example, it would use $53 billion in anticipated higher Social Security taxes to offset health care spending. Social Security revenues are expected to rise as employers shift from paying for health insurance to paying higher wages. But if workers have higher wages, they will also qualify for increased Social Security benefits when they retire. So the extra money raised from payroll taxes is already spoken for. (Indeed, it is unlikely to be enough to keep Social Security solvent.) It cannot be used for lowering the deficit.

A government takeover of all federally financed student loans — which obviously has nothing to do with health care — is rolled into the bill because it is expected to generate $19 billion in deficit reduction.

Finally, in perhaps the most amazing bit of unrealistic accounting, the legislation proposes to trim $463 billion from Medicare spending and use it to finance insurance subsidies. But Medicare is already bleeding red ink, and the health care bill has no reforms that would enable the program to operate more cheaply in the future. Instead, Congress is likely to continue to regularly override scheduled cuts in payments to Medicare doctors and other providers.

Removing the unrealistic annual Medicare savings ($463 billion) and the stolen annual revenues from Social Security and long-term care insurance ($123 billion), and adding in the annual spending that so far is not accounted for ($114 billion) quickly generates additional deficits of $562 billion in the first 10 years. And the nation would be on the hook for two more entitlement programs rapidly expanding as far as the eye can see.

The bottom line is that Congress would spend a lot more; steal funds from education, Social Security and long-term care to cover the gap; and promise that future Congresses will make up for it by taxing more and spending less.”

I fear another sleepness night!

Dave

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3 Responses

Answer to your first paragraph rhetorical question: You can’t. He is as untrustworthy a human being as ever lived. People who call him egomaniacal, megalomaniacal, are only scratching the surface. He is an absolute SOCIOPATH.
But his wife and daughter and 12 of her retinue went to NYC on Sunday on Marine 1 to see a show. I’m glad his family is havin’ fun. Mine isn’t.

[…] greed and deceit it represents. I covered the deceit side earlier this week in my story “Obama’s Historic Day – a $562 Billion Lie“, so I won’t repeat it here. But let’s look at the greed side of the […]